Please can we not have technical analysis? @TEPCapital you should know better, boy.
This is the premium group, we should be about the fundamentals and business analysis.
Certainly shaping up very well leading into a period of heightened newsflow. Here's the daily chart, below. Former resistance at 19.5c has turned into support. SHP seems to be consolidating now in the low 20s which sets us up well for a push into the high 20s/ low 30s upon release of the upcoming newsflow. The main events/ price-sensitive newsflow on the horizon, include:
- Analysis of core samples of OHM-02 (first hole) end of next week
- OHM-01 (second hole) drilling completion in early May
- Resource upgrade due May
- Scoping study due June
The last two points (the resource upgrade and the scoping study) are the major news events that should generate significant interest and a revaluation of the stock. In saying that, if the OHM-02 results come back favourable (which I suspect will be the case), then the market may already start pricing in the resource upgrade and scoping study results. Of course, no one has a crystal ball here, and I might be wrong, but I'd like to think there is some major upside to the share price incoming. Let's see.
Today's session is why we do what we do;
Great to see a clear breakout from the 6 month sideways action on SHP, we closed higher than any other closing price in the stocks history on mammoth volume today. This opens the door for the blue sky rerate potential where no one on the registry is in the red, with zero resistance over head and the FA leading the stock into a strong macro environment. All is aligning for the largest potash deposit in Europe.
This was both for the heads and the options (SHPO), with what I can determine as a fund getting set in the stock with multiple $500k buys over 2 minute intervals throughout the day.
I'm excited to see who joined the register today, and the week ahead, especially since this only just turned $100M+ MC, more legs to go on this yet I think.
Congratulations to all holders,
Not financial advice, DYOR.
